Why Do Companies Attend Trade Shows and Why Are They Important?
Trade shows have been around for decades and regularly attract many companies from all over the country. There are many different trade shows for different industries, but they’re all very popular.
Anyone that’s never been to a trade show will wonder what’s so great about them. Specifically, why do companies attend trade shows?
Here at Everything Displays most of our clients understand the purpose of trade shows and why companies attend them as either attendees or exhibitors. With that said however, there are many small businesses, entrepreneurs and people in the public who wonder this very question as they don’t know much about trade shows or understand their value. In this piece, we’ll answer this question for you as well as explaining why trade shows are so important.
Why Do Companies Attend Trade Shows?
While trade shows may seem strange to someone that’s never been, there are actually many benefits in participating at one. A company can attend a trade show and leave it in a much better position than they were beforehand.
Bearing that in mind, here are the top reasons companies and marketers attend trade shows:
Learn More About Their Industry
Many companies attend trade shows purely to help them learn more about their industry. They can walk around the trade show floor and gain lots of information just by looking at different stalls and listening to different talks. It can help you get an insight into the current trends and patterns within a particular industry.
Network With Other Professionals
Trade shows are often used as a networking tool for companies and marketers. The main concept of a trade show is to bring loads of different businesses and industry professionals together in one space. As a result, you have a great opportunity to talk to many professionals within your industry. Companies can exchange details with other companies and strike up professional friendships. By networking at a trade show, a business may gain valuable contacts that can help it move forwards.
Spy On Their Rivals
It’s safe to say a lot of businesses attend trade shows to spy on their rivals. If a rival company is exhibiting at a trade show, it’s the perfect opportunity to do some recon work. Companies attend the trade show and take a look at their rival’s exhibition stand. They can gain a lot of valuable information on the latest products or ideas the competition has in mind. It’s also a good way of seeing other people’s reaction to the competition. Businesses can return back to base full of information about what the competition is doing and start working on ways to get ahead.
Interact With The Press
One of the great things about trade shows is that they attract a lot of coverage from the press. Especially big events in popular industries. By attending one, your company has the opportunity to interact with people from the press and market your business. Talk to them about your company and tell them what you do, etc. Who knows, they may find your company interesting and decide to run a story about you. The worst case scenario is that your company gains a media contact that can come in handy later down the line.
Search For Suppliers
Every business needs suppliers for one thing or another. By attending trade shows, a company has the opportunity to search for suppliers. Businesses can walk around the trade show floor and look at all the other companies on display. In doing so, they can create a shortlist of potential suppliers and then get in contact with them to start doing business.
Arguably the main reason companies attend trade shows is to generate leads. As well as the many businesses and media at these shows, there are loads of consumers walking around. It’s the perfect chance to speak with consumers and talk about your business. You can start generating leads and handing out business cards to everyone you speak to. Consequently, a trade show can bring your business an influx of new customers.
Increase Brand Awareness
Finally, companies and marketers attend trade shows to increase brand awareness. This can be done simply by walking around, you don’t even need a stall. Many companies wear branded merchandise as they walk around, which gives their business huge visibility. The act of speaking to others also improves brand awareness. Many businesses use trade shows simply for this purpose; to help their brand gain traction and become more well known.
Why Are Trade Shows Important?
The second thing we want to address is why trade shows are so important. As you can see from all the benefits of attending one, a trade show can clearly do great things for your business. They’re an important marketing tool if you’re trying to get your company off the ground. By attending a trade show, you’re throwing your business into a room with loads of other businesses, consumers, and reporters. It’s simply the best way to directly interact with others and promote your brand.
Trade shows are also important as they’re a big information source for businesses. There’s no better place to get knowledge of an industry than a trade show. Attending one is ideal for anyone in the development stages of a product/business idea. You can go to one and see all the market trends and what consumers are enjoying the most. The best thing is, you get all of this information first-hand. Plus, as mentioned, you gain a lot of knowledge on your competitors too. It can be hard to find out what rival businesses are doing unless you attend a trade show. In many ways, it’s the best way to keep tabs on them and see what their next moves are.
In summary, many people see trade shows as just large events where companies set up stalls and try to sell their products. However, they’re much more than that. Businesses can gain so much and will benefit a lot from attending trade shows. They’re simply the best way to network with other professionals, directly speak with consumers and gain industry information. If you own a business and are looking for a great way to market your company or do some research, a trade show is a great option. You can set up your own amazing exhibition stand if you want, or you can attend them simply to walk around and look at the other stands on show.
- Everything Displays Team